Current Affairs of 26 September 2015

1. Arvind Panagariya appointed as Sherpa for G-20 Summit
The Union Government  decided to appoint Arvind Panagariya, Vice President of NITI Aayog, as the Sherpa for the 2015 G-20 Summit. The Summit will take place in Antalya, Turkey in November 2015.
Sherpa is a senior official responsible for preparing the agenda for leaders to consider during the summit.
Panagariya will be replacing Railway Minister Suresh Prabhu who was appointed Sherpa for the G-20 Summit in 2014.
Earlier, the Deputy Chairman of the erstwhile Planning Commission used to be the Prime Minister’s Sherpa for G-20 talks.

2. China successfully launched carrier rocket Long March-11
China  successfully launched a new model of carrier rocket the Long March-11 from the Jiuquan Satellite Launch Centre in the north-western province of Gansu. The rocket carried four micro-satellites into space, which will be used mainly for testing.
This solid propellant rocket was developed by the China Academy of Launch Vehicle Technology with the China Aerospace Science and Industry Corporation. The rocket will mainly be used for launching micro-satellites.
The Long March 11 launch is the 211th of China’s Long March series, following the first launch in April 1970 when a Long March 1 rocket had put China’s first satellite Dong Fang Hong-1 into the orbit.
The launch of Long March-11 was China’s eighth launch in 2015, following the missions sending three Beidou global positioning satellites the Gaofen-8, Gaofen-9 and Yaogan Weixing-27 earth observation satellites to the space.

3. UNGA adopted Transforming Our World: the 2030 Agenda for Sustainable Development
The 193-Member United Nations General Assembly (UNGA) formally adopted the Transforming Our World: the 2030 Agenda for Sustainable Development along with a set of bold new Global Goals, that are a universal, integrated and transformative vision for a better world.
The 2030 Agenda and the Global Goals were adopted during the UN Sustainable Development Summit that is being held at the UN headquarters in New York.
The 2030 Agenda for Sustainable Development is an agenda for people to end poverty in all its forms. It is composed of 17 goals and 169 targets to wipe out poverty, fight inequality and tackle climate change over the next 15 years.

4. Rear Admiral Sanjay Mahindru took charge as Flag Officer Submarines
Rear Admiral Sanjay Mahindru ontook charge as Flag Officer Submarines. He succeeded Rear Admiral SV Bokhare.
As the Flag Officer Submarines, he will oversee the operations of INS Chakra S71- the lone nuclear powered submarine of the Navy, 10 Sindhughosh class submarines and 4 Shishumar class submarines.
In addition, he will oversee the ongoing construction/development of Arihant and Kalvari class submarines.

5. Reserve Bank of India relaxed Change in Ownership Norms of Borrowing Entities
The Reserve Bank of India (RBI) announced relaxation in norms that allow banks to upgrade credit facilities extended to borrowing entities upon a change in ownership, only if the ownership has been changed outside Strategic Debt Restructuring Scheme (SDR).
iThe Banker’s bank announced that the banks can treat loans to stressed companies that have undergone ownership changes as standard loans, provided the stress was due to operational or managerial inefficiencies.
The relaxation will offer more flexibility to banks to bring in a change in ownership of borrowing entities which are under stress due to operational/ managerial inefficiencies despite substantial sacrifices made by the lending banks.
As per the announcement, the new promoter should not be a person/entity/subsidiary/associate etc. (domestic as well as overseas), from/belonging to the existing promoter/promoter group. The new promoter should have acquired at least 51 per cent of the paid up equity capital of the borrower company.

6. Pt. Deen Dayal Upadhyaya’s birth anniversary celebrated
The 100th birth anniversary of the great philosopher, thinker, sociologist and organiser par excellence Pandit Deen Dayal Upadhyaya was celebrated .
In his tribute on Twitter, PM calls him a beacon of selfless service and an excellent organiser.
Birth Anniversary Celebrations of Pandit Deendayal Upadhyaya has been organised at Nehru Memorial Museum & Library in New Delhi.

7. India’s Mars mission completes one year
India's globally acclaimed Mars mission has completed one year with Indian Space Research Organisation releasing the Mars Atlas to mark the feat of the Orbiter whose life is now expected to last many more years.
It was on this day last year that India scripted space history when it successfully placed its low-cost Mars spacecraft in orbit around the Red Planet on its very first attempt, breaking into an elite club of three nations.
The space probe entered the Mars orbit on September 24, almost a year after its launch, and made its home around the Red Planet.

8. Volkswagen names Porsche chief Matthias Mueller as new CEO
German carmaker Volkswagen  named Matthias Mueller, head of its luxury sports car brand Porsche, as its new chief executive.
Mueller, 62, will take over with immediate effect, replacing Martin Winterkorn who stepped down two days earlier.

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